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Explain and show graphically how markets would be affected if South Africans chose to be more healthy
the following equations describe the cost of production and demand for soccer balls.
demand price = 10 - q
MR = 10-2q
TC = 3+q+0.5q^2
MC = 1+Q
I think i need to figure out what Q is to solve these.. MR i think i'd set the equation and i'd end up with =5 I need to find what the fixed cost is for the soccer balls and how many are produced to in the econoamy if they profit max. what price do each sell for and what is the profit earned.. any help is appreiciated thanks
we see an unusually high rate of domestic issues and drepression among lottery winners. Why are these people, who have won millions of dollars, so unhappy? Explain with economics.
hormone free dairy milk has been found to be potentially more beneficial and healthy. consider the market for this product in south africa.
question 1: Explain and show graphically how this market would be affected if south africans chose to be more healthy.
question 2 explain and show graphically how this market would be affected if there is an increase in the number of diary farmers that produce hormone free milk at the same time south africans chose to be more healthier.
4) A competitive firm is maximizing profits by producing 250 units of output at the current market price of RM1000 per unit. The firm has average fixed cost (AFC) of RM300 and total costs of RM300,000 at this output level.
(a) Draw a diagram showing all the relevant cost and demand curves. That is, include the MR, MC, AVC, and ATC curves.
[6 marks]
(b) Calculate TFC, TVC, ATC, AVC, MC, TR, and MR.
[6 marks]
(c) Calculate and indicate the area of profit on your diagram.
[2 marks]
